Expect 5-8% upside in PFC, says Atul Badkar

Expect 5-8% upside in Power Finance Corporation (PFC), says Atul Badkar, VP - Institutional Equities - Derivatives Desk, Edelweiss Securities.

Badkar told CNBC-TV18, "Post the results we have very clearly seen a very interesting price action on PFC. The stock was up close to 4 percent yesterday and I think the momentum should continue. On valuations and fundamentally also our analyst has given a buy call on PFC and I think over the next few trading sessions, we can very quickly get a 5-8 percent upside."
He further added, "We have seen open interest built up on the long side and I do not see any reason why that should stop. Technically we have a target of about 5-8 percent higher very, very quickly."